Last Click Vs Multi- Channel Attribution Modeling Technique

In today’s world
attribution modeling has become one of the biggest challenges. Many companies
take outside assistance to get a hinge on their overall profits or revenue. At
times, assessing the value of the marketing strategy, by connecting through
various touch points can become quite a task. Advertisers generally use a
variety of attribution models, but one of the most common ones are the
multi-touch and the last touch attribution modeling technique.

While leveraging
an approach there are different things we need to consider, like the platform
it is being used for, the purpose and the expectant results.

So, in order to
make substantial comparisons, we need to understand about each of the attribution modeling tools along with their pros and cons.

Multi-touch
Attribution Model

A multi-touch
modeling technique takes into consideration more than one or multiple touch
points of a customer’s journey before he finally makes the purchase. Or we can
say that before a customer final conversion, all the touch-points are to be
considered in a multi-touch modeling technique.

This technique
includes the time decay, linear as well as custom modeling technique. Now let’s
understand some advantages and limitations to completely get an insight this
method and how it can be helpful for the owner and his business.

1.
Better Insight

You can get a
detailed insight and information on all the touch-points in a customer’s
journey and give credit to the appropriate ones before the final conversion
took place.

2.
Better Allocation Of Budgets

Since as a
business owner you can get a bigger and a clear picture of all the routes that
the customer is following just before making it to the final website. The owner
can get a clear overview of various marketing tactics and the spent that is to
be allocated to the upper and lower funnel.

3.
Accurate Performance Tracking

Various marketing
channels can have a significant impact on each other. By using the multi-touch
attribution technique it can capture performance in a much detailed manner.

4.
Complicated

As an overall
result, this method can give a whole lot of information. At times it can become
a little difficult for the client to separate or categorize entire data
received from various channels.

5.
Over-Valuing Touch-points

Various platforms
which didn’t lead to final conversions can at times be overvalued. It can
become quite challenging to assign a value to each and every platform through
your multi-touch attribution model.

Last-touch
Attribution Model

This modeling
technique is a single touch technique wherein it gives 100% credit to the very
last touch-point where the customer went just before making the purchase. It is
important since whatever came just before the final touch pushed over the edge
the person into becoming a customer. It is believed that it worked and got the
results. The last touch attribution is the validation that all the marketing
efforts before the lead to finally land him to that channel are working. It
basically works in support of the business.

1.
Less Data

Since there is
only one touch-point to be considered, it is rather a simple step for the
business owner to consider that and assign credit that touch-point.

2.
Clearer Proximity

Since the owner
clearly knows the last touch or platform the customer visited just before
coming to the final landing page and making the purchase, he can have a much
clear picture of the last clicks and views preceding a conversion.

3.
Complex

It may seem to be
quite simple yet, if you only track the lack click, it can become a little
hasty at times as it would not show how the customer found out about the brand.
This could result in inadvertently moving the budget away from the channels
which drove the customer to engage with your brand.

Attribution modeling in Google Analytics has pioneered the overall last-click model
attribution model. Recently, however, there has been an industry-wide shift
from the traditional techniques. As customers journey has been increasingly
becoming complex, the marketers are now starting to experiment with some new
ways of approaching the multi-touch technique.